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Compilations & Review

What is a compilation?
A compilation involves gaining a general understanding of your business, accounting principles and financial reporting system(s) used. It also presents financial information in the accepted format of proper financial statements.
Audit vs. Review

When considering audit versus review, the conversation often leads to the cost factor. A review costs less than an audit and, as a result, is often viewed as the preferred option, especially for early-stage, high-growth companies with limited operating capital.

In an audit, the CPA firm designs and performs analytical procedures, inquiries and other procedures only as deemed necessary based on its understanding of the industry and client.

The investigation of the entity’s internal control system or its risk of fraud, is the area of interest for bankers and investors who are lending/providing.

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